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Tuesday, January 26, 2016


---------- Forwarded message ----------
From: Madan Gopal Garga <>
Date: Sun, Jan 17, 2016 at 8:37 AM
To: Madan Gopal Garga <>

Announcements by PM today on start up india:

#1. Compliance regime based on self-certification. Labour laws – no inspection for 3 years

2. Startup India hub – single-point contact ('friend, mentor, guide')

3. Mobile app to be launched on April 1: registration of startup company in one day | Also portal for clearances, approvals and registrations

4. Fast-track mechanism for startup patent applications

5. Panel of legal facilitators for startups to file IP (patents, designs, trademarks) – costs borne by gov

6. 80% rebate on filing of patent applications by startups, as compared to other companies

7. Relaxed norms of public-procurement for startups. No requirement of turnover or experience, but no relaxation of quality

8. Faster exits for startups (Insolvency and Bankruptcy Bill), eg: wind up within 90 days

9. Fund of funds – initial corpus – INR 2,500 crore, later on 10,000 crore

10. Credit guarantee fund for startups

11. Tax exemption on capital gains

12. Tax exemption to startups for 3 years to promote growth

13. Atal Innovation Mission:sector-specific incubators, 500 tinkering labs, pre-incubation training,seed fund for high-growth; PPP model being considered for 35 new incubators; 31 innovation centres at national institutes, 7 new research parks like IIT-M. 5 new bio-clusters

14. Innovation Core Programs for school students in 5 lakh schools

15. Annual Incubator Grand Challenge to create world class incubators in India

16. National and International Startup Festivals to provide visibility

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